Reflecting a rotation into defensive health care stocks, and responding to positive clinical trial news, vaccine producer Moderna (MRNA) jumped 30 spots in the SIA S&P 500 Index Report yesterday to 13th place. The shares have been climbing back up the rankings since October and since they returned to the Green Favored Zone in early November, they have returned 27.3%.
After spending a year languishing in the red zone of the SIA NASDAQ 100 Index Report, most of that right near the bottom, Docusign (DOCU) suddenly shot straight up into the Green Favored Zone yesterday on the back of a positive earnings report that sparked a 7.3% rally in the share price. Docusign currently sits in 24th position after climbing 29 spots yesterday and 57 places in the last month.
Chipmaker for data center applications Broadcom (AVGO) started climbing back up the rankings in the SIA NASDAQ 100 Index Report in October. Yesterday it returned to the Green Favored Zone in 26th place after climbing 4 spots yesterday and 21 positions in the last month.
Gold miner Dundee Precious Metals (DPM.TO) jumped 6.0% on news of positive exploration results from a project in Serbia yesterday. This enabled the shares to jump 71 spots in the SIA S&P/TSX Composite Index Report to 33rd place.
Gold and Silver royalty company Wheaton Precious Metals (WPM.TO) has been steadily climbing back up the rankings in the SIA S&P/TSX Composite Index Report. This rise started deep in the red zone back in September of 2022 and has culminated in the shares returning to the Green Favored Zone for the first time since September of 2020. Yesterday, WPM.TO finished in 58th place up 15 spots on the day and up 66 positions in the last month.
Textron (TXT) is a producer of helicopters, other aircraft and other types of vehicles for defense and industrial applications. Since returning to the Green Favored Zone in the SIA S&P 500 Index Report in October from a brief dip into the yellow zone, TXT shares are up 19.8%. Yesterday, they moved up another 13 spots and currently sit in the 69th position.
After spending over 18 months stuck in the red zone of the SIA S&P 100 Index Report, Boeing (BA) has rocketed back up the rankings in recent weeks, returning to the Green Favored Zone for the first time since April of 2021. Yesterday, Boeing climbed 10 spots to 22nd place and it is up 42 positions in the last month.
In today’s edition of the Daily Stock Report, we are going to take a look at Stella Jones Inc. (SJ.TO) which we have not highlighted since all the way back in August of 2020. Stella Jones Inc. which produces, markets, and sells pressure treated wood products in Canada and the United States, has recently moved back in the Favored Zone having risen in the SIA S&P/TSX Composite Index Report moving up 22 spots in the last month and 43 spots in the last quarter. Currently the shares occupy the 53rd spot in the Index.
Online shopping website support company Shopify (SHOP.TO) continues to climb up the relative strength rankings in the SIA S&P/TSX 60 Index Report. A move that started deep in the red zone in late October has culminated with SHOP.TO returning to the Green Favored Zone for the first time since August. SHOP.TO jumped 12 positions yesterday to 7th place and it has moved up 23 spots in the last month.
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